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A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.
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October 25, 2022
On the web
Fireblocks Launches Digital Asset Payments Engine with FIS Joining as New Network Member
PR Newswire
Fireblocks, an easy-to-use platform to create innovative products on the blockchain and manage day-to-day crypto operations, announced today the public launch of its Payments Engine, a new suite of tools that will enable payment service providers (PSPs) with the ability to provide a blockchain agnostic, end-to-end solution for merchants, entrepreneurs and creators to accept, manage and settle digital asset payment transactions across any geography. Early pilot partner Checkout.com, who was instrumental in supporting the development of the Payments Engine, has facilitated more than $1 billion in digital asset merchant settlements through their solution this year. Today, Fireblocks welcomes FIS, the largest merchant acquirer in the world, into its network of partners using the Payments Engine. FIS and its Worldpay solutions already provide card-to-crypto processing services for 4 of the top 5 cryptocurrency exchanges and was the first global merchant acquirer to offer USDC settlements. Together, the payment services providers collectively serve over a million merchants around the world.
August 25, 2022
On the web
FIS to Modernize Real-Time Payments Infrastructure and Central Bank Digital Currencies for Countries Around the World
Businesswire
“With real-time payments increasing, many countries must either modernize outdated payments infrastructure or build entirely new real-time payments networks to move money faster. In response, FIS® has launched its new central infrastructure payment solution, RealNet™ Central, to help central banks transform their markets to digital-first, real-time payment economies…As this shift occurs, RealNet™ Central will accelerate real-time payments adoption by connecting a country’s businesses, consumers, financial institutions and government entities to real-time networks, both domestically and internationally. FIS will also help central banks launch Central Bank Digital Currencies (CBDC). Through FIS’ CBDC Virtual Lab – created in collaboration with M10 Networks (M10) and its high-performance digital money platform – FIS will support countries’ efforts to integrate CBDCs into their economy.”
June 29, 2022
On the web
FIS Increases Approval Rates and Decreases eCommerce Fraud Liability for Merchants with Guaranteed Payments
Business Wire
“Financial technology leader FIS® announced today the launch of its Guaranteed Payments solution, becoming the only payments processor to offer a fully integrated solution designed to guarantee merchants increased eCommerce transaction approval rates and eliminate the financial liability of chargebacks due to fraudulent purchases. According to a recent survey, 9 out of 10 merchants lost revenue through payment fraud in the last year.1 Fraud accounts for about 1 percent of online transactions, yet merchants routinely reject as much as 9 percent of orders to avoid fraud2 totaling $443 billion3 in lost revenue.”
May 13, 2022
On the wires
FIS Helps Small and Mid-Sized Financial Institutions Digitally Transform Through New Embedded Finance Capabilities in Partnership with Treasury Prime
Businesswire
“The global economy’s digital transformation is accelerating, and community and regional banks are seeking ways to offer the most advanced digital capabilities and open new channels for distribution. To help these financial institutions meet the growing need for digitally-native banking experiences and grow their client base, FIS® has announced a new embedded finance offering developed in partnership with Treasury Prime…The first financial institution to tap into FIS’ embedded finance services is Grasshopper, a leading-edge, digital commercial bank. Grasshopper partnered with HUMBL, a Web 3 blockchain company with both consumer and commercial divisions, to utilize their bank services, powered by FIS and Treasury Prime, across its user base.”
March 18, 2019
Top Post
FIS Is Buying Worldpay for $43 Billion to Form Payments Giant
CNN
“The new entity, which will have annual revenue of more than $12 billion, will be better placed to serve the world’s growing e-commerce industry, the two US companies said in a statement Monday. FIS is offering Worldpay shareholders a mix of cash and stock to make the deal happen. It will assume Worldpay’s debt as part of the agreement that values the company at $43 billion. FIS shareholders will end up holding 53% of the merged company, while Worldpay shareholders will own the remaining 47%. The deal is expected to close later this year. “Scale matters in our rapidly changing industry,” FIS CEO Gary Norcross said in the statement. “Our two powerhouse organizations will combine forces to offer a customer-driven combination of scale, global presence and the industry’s broadest range of global financial solutions.””
June 26, 2018
On the wires
FIS Technology Speeds Testing And Certification Process For RTP, New Real-Time Payments System From The Clearing House
Business Wire
“Financial institutions and payment firms looking to connect to RTP can use the tool to test their readiness to complete RTP certification. They are required to run a variety of simulated tests prior to being certified on the RTP system. New software from FIS will automate the process, allowing participants to run the required tests and complete the precertification and certification process more quickly and efficiently…The new agreement builds and expands on existing work between FIS and TCH to bring the benefits of real-time payment clearing and settlement to U.S. financial institutions. FIS offers innovative technology designed to help U.S. financial institutions accelerate the path to real-time payments.“
April 19, 2018
On the wires
FIS Connects Three Australian Financial Institutions to Real-time Payments Platform
“Continuing its leadership in the global movement toward real-time payments, global financial technology provider FIS™ (NYSE: FIS) announced today that it has leveraged its Open Payment Framework (OPF) to connect three leading Australian financial institutions to the country’s New Payments Platform (NPP).”
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